ACH Positive Pay Past, Present, and Future

1. ACH Positive PayPast, Present, and Future John Snyder Teresa Wood

2. Why Is It Needed? • ACH transactions used to be direct bank to bank transactions • Funds travelled with transaction • No reconciliation was required • Today there are many originators • Transactions can start from anywhere, even outside the U.S. • Networks have expanded to include insecure sites • Communications go beyond the bank’s firewalls • Public networks are frequently used

3. Fraudsters Opportunities and Threats • External third-party initiation and origination • Remote Deposit Capture • International payments • Wire transfer payments too

4. How Does It ACH Positive Pay Work? • Preemptive • Proactive • Anomaly detection • Mining • Matching • Check conversions • Non standard reference fields • Filtering at the account level • Blocks • Amount / date limits • Particular payees

5. How T-Recs Supports • Conventional T-Recs matching • Customer records to bank clearing records • Flexible watch criteria, reference data • Many-to-one, many-to-many • SmartResolve rules • Manual setup • Importable from a file • Updateable

6. Demonstration

7. What’s Next? • Converted checks • New filtering rules

8. Q&A